In a bowl, combine the rice, butter, salt and 1/2 cup milk. Let stand. In a bowl, combine gelatin and boiling water; stir until gelatin is dissolved. Stir in almond extract and remaining milk. Chill until partially set.
In a small bowl, beat cream with sugar until soft peaks form. Drain cherries, reserving juice for glaze. Fold the rice mixture, cherries and whipped cream into gelatin. Spoon into a 6-cup mold coated with cooking spray. Chill for 4 hours or until set.
For glaze, in a small saucepan, combine cornstarch and reserved cherry juice until smooth. Bring to a boil. Cook and stir for 1 minute or until thickened. Remove from the heat. Stir in extract. Chill. To serve, unmold and drizzle with glaze.